What Is the Marketing Mix?

Published: 2021-06-29 07:00:14
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Category: Business

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"What is the Marketing Mix?"
The Marketing Mix is associated with those items of a company's marketing strategy that exist to address the customer's needs. It consists of four parts - product, price, place and promotion. These four elements should be perfectly balanced. In the following, by means of the Coca-Cola Company as an excellent example of a business with a successful strategy, the four parts of the Marketing Mix will be illustrated.
The first part is the product. It is necessary to draw the attention to the features of the product. In the case of the Coca-Cola Company, the function of their products is to offer the customer a large spectrum of various drinks which respond to the consumer's special demands, and ,needless to say, to satisfy the basic wants of the clients. One of the guidelines of the Coca-Cola Company is the Coca-Cola brand as the central product of the company. Their aim is to make good quality available everywhere and continuously. Another important factor is the appearance of the product - its design. For Coca-Cola it is of prime importance to have a stimulating color to heighten the appearance, which needs to give the customer a positive impression of the product and which strengthens the recognition value. From the very first, the design of Coca-Cola was stylish, striking, appealing and unmistakable. The red and white corporate logo is a milestone in the history of product design and also the typical bottle became legendary, and both were definitely part of the immense success of the enterprise.

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